November’s truck month sales are a repeat episode of October’s: the count is high, much higher than the 2021 equivalent, but has decreased from the month prior. ACT and FTR have the numbers!
November 2022 Numbers
ACT has preliminary orders at 33,000 while FTR reports 34,300. While this is lower than October’s estimate of 43,200, it is a far cry from November 2021.
To illustrate how far the trucking industry has come in the last twelve months, November 2021 did not exceed 10,000 sales, making this year’s November sales more than triple they were last year. This echoes the results found in 2019 and 2020, where a mediocre November was followed by one that was a blowout.
In regards to future sales, FTR CEO Jonathan Starks says the order logs for 2023 indicate strong, but not record-breaking, sales for the entirety of the year.
“Much of the year appears to have been slotted for production in 2023. That means further moderation of levels as we get into the new year. The market remains strong despite the economic uncertainties, and production still will be limited to some extent by supply chains and labor.”
The fact that supply chains are still running below maximum capacity indicates that there is plenty of room for growth within the industry, but that is expected to be seen in 2024.
The numbers provided by ACT and FTR are both preliminary, but are expected to be close to their final estimates that come mid-December. If these numbers are far from the mark, we will be sure to let you know in the December truck sales update that will come out in January.
With the trucking industry booming, now may just be the best time for you to add a truck or trailer to your fleet to earn more money and take advantage of an economy still recovering from the economic fallout of COVID-19. Topmark Funding can help! By leveraging our network of numerous funding sources, we can get you the best funding options for your particular credit scenario. Read on below at the About Us section to learn more.
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